Asia United Bank vs Security Bank: Home Loan Rate Comparison
When choosing between Asia United Bank (AUB) and Security Bank for a home loan or refinance, the differences go beyond headline interest rates. Below, we compare both banks across the factors that matter most to Filipino homeowners: interest rates, eligibility, loan terms, processing speed, and overall value.
Please note: Interest rates are subject to change. Always verify current rates directly with the bank or through Nook before making a decision.
Interest Rates
| Fixed Period | Asia United Bank | Security Bank |
|---|---|---|
| 1-Year Fixed | Not publicly disclosed | 6.99% p.a. |
| 5-Year Fixed | Not publicly disclosed | 6.75% p.a. |
| Home Equity | Not publicly disclosed | 7.50% p.a. |
Asia United Bank does not publicly publish its home loan interest rates on its website, making direct comparison difficult without an in-branch inquiry. Security Bank, by contrast, offers clear and competitive fixed-rate pricing — with its 5-year fixed rate of 6.75% p.a. being one of the sharpest offers available in the Philippine market right now. Through Nook, you can access Security Bank's best available rates at no cost to you.
If you are currently paying 8% or more on your existing home loan, switching to Security Bank's 6.75% 5-year fixed rate could translate to significant monthly savings. For example, on a 3,000,000 loan over 20 years, moving from 8.5% to 6.75% could reduce your monthly payment by approximately 3,200 pesos — that's over 38,000 pesos saved per year.
Eligibility Requirements
| Criteria | Asia United Bank | Security Bank |
|---|---|---|
| Minimum Monthly Income | Not publicly specified | 50,000 |
| Employment Types Accepted | Locally employed, self-employed (limited details) | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional, Freelancer |
| Max Debt-to-Income Ratio | Not publicly specified | 40% |
Security Bank stands out for its inclusive eligibility criteria. Whether you are a locally employed professional, a government employee, a BPO worker, an OFW, a freelancer, or a self-employed entrepreneur, Security Bank has a home loan product designed for you. This breadth of coverage is relatively rare among Philippine banks and is a major advantage for borrowers who fall outside traditional employment categories.
Asia United Bank's eligibility criteria are less clearly defined for public comparison. Borrowers may need to visit a branch or contact AUB directly to determine if they qualify. This lack of transparency can slow down the decision-making process when time matters.
Loan Purposes Covered
| Loan Purpose | Asia United Bank | Security Bank |
|---|---|---|
| Refinancing | Yes | Yes |
| Ready For Occupancy (RFO) | Yes | Yes |
| Pre-Selling | Limited info | Yes |
| Home Equity / Cash-Out | Limited info | Yes (7.50% p.a.) |
| Renovation | Limited info | Yes |
| New Construction | Limited info | Yes |
| Foreclosed Properties | Limited info | Yes |
Security Bank covers the full spectrum of home financing needs — from refinancing an existing loan to purchasing a foreclosed property or funding a renovation. This versatility means you can work with a single bank partner across multiple property milestones. AUB offers core home loan products, but detailed coverage of niche loan purposes is not readily available without a direct inquiry.
Processing Speed and Loan Terms
| Feature | Asia United Bank | Security Bank |
|---|---|---|
| Typical Approval Time | Not publicly specified | 23 days |
| Loan Tenure | Up to 20 years (estimated) | Up to 25 years |
| Online Application | Limited | Yes (via Nook, 100% free) |
Speed matters when you are trying to lock in a good rate before it changes or close on a property. Security Bank's typical approval timeline of 23 days is fast by Philippine banking standards. Applying through Nook streamlines this further — Nook's mortgage specialists handle document preparation, bank coordination, and follow-up on your behalf, at zero cost to you.
Monthly Repayment Illustration
To make the rate difference tangible, here is a side-by-side monthly repayment estimate for a 3,000,000 peso loan over 20 years at different interest rates. These figures are for illustrative purposes only and do not include fees, insurance, or taxes.
| Loan Amount | Interest Rate | Loan Term | Est. Monthly Payment |
|---|---|---|---|
| 3,000,000 | 8.50% (typical existing rate) | 20 years | ~26,035 |
| 3,000,000 | 6.99% (Security Bank 1-yr fixed) | 20 years | ~23,228 |
| 3,000,000 | 6.75% (Security Bank 5-yr fixed) | 20 years | ~22,791 |
Refinancing a 3,000,000 peso loan from 8.50% to Security Bank's 5-year fixed rate of 6.75% could save you approximately 3,244 pesos per month — or around 38,928 pesos annually. Over a 5-year fixed period, that is potential savings of nearly 194,640 pesos, before accounting for any additional compounding benefit.
Curious how other banks stack up? See our detailed Landbank vs Security Bank home loan comparison to see how another government-backed lender compares on rates and eligibility.
Why Apply Through Nook?
Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. When you apply for a Security Bank home loan through Nook, you get:
- Access to Security Bank's best available rates — including the 6.75% 5-year fixed offer
- A dedicated mortgage specialist who guides you from application to approval
- Document preparation support so you do not miss anything that could delay your approval
- No broker fees — Nook earns from the bank, not from you
- Multi-bank comparison — Nook shops across partner banks to find your best match
Asia United Bank does not currently have a digital broker partnership equivalent to Nook's, meaning AUB applicants typically need to manage the process independently through a branch or their website. This adds friction and time to an already complex process.
If you have previously compared options like Philippine Veterans Bank versus Security Bank, you will see a consistent theme: Security Bank's combination of competitive rates, broad eligibility, and fast processing makes it a strong contender across the board.
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Compare My Options →Frequently Asked Questions
Does Asia United Bank offer home loan refinancing?
Yes, Asia United Bank (AUB) does offer home loan products including refinancing. However, AUB does not publicly publish detailed rate information or eligibility criteria on its website, so prospective borrowers typically need to visit a branch or contact AUB directly to get a quote. This lack of transparency can make comparison shopping more difficult compared to banks like Security Bank that publish their rates clearly.
What are Security Bank's current home loan interest rates?
Security Bank currently offers a 1-year fixed rate of 6.99% p.a., a 5-year fixed rate of 6.75% p.a., and a Home Equity loan rate of 7.50% p.a. These are among the most competitive home loan rates available in the Philippines right now. Note that rates are subject to change — check with Nook or Security Bank directly for the latest confirmed rates before applying.
How long does Security Bank take to approve a home loan?
Security Bank's typical home loan approval timeline is approximately 23 days. Applying through Nook can help streamline this process further, as Nook's mortgage specialists assist with document preparation and bank coordination — reducing the chance of delays caused by missing or incomplete requirements.
Can OFWs and freelancers apply for a Security Bank home loan?
Yes. Security Bank accepts a wide range of employment types including OFWs and Seafarers, Freelancers, Self-Employed individuals, BPO workers, Government employees, and Private sector employees. This broad eligibility makes Security Bank one of the more accessible home loan providers in the Philippines for non-traditional earners.
What is the minimum monthly income required to apply for a Security Bank home loan?
Security Bank requires a minimum monthly income of 50,000 pesos for home loan applicants. Combined income from spouses may be considered. If you are unsure whether your income qualifies, Nook's mortgage advisors can assess your eligibility for free before you formally apply.
Is Nook's mortgage brokering service really free?
Yes, Nook's service is 100% free for borrowers. Nook earns a referral fee from the bank when a loan is successfully facilitated — this does not increase the rate or cost you pay. You get the same or better rates as going directly to the bank, plus the added support of a dedicated mortgage specialist who manages the process on your behalf.
How much could I save by refinancing from 8.5% to Security Bank's 6.75% rate?
On a 3,000,000 peso loan over 20 years, refinancing from 8.5% to 6.75% could reduce your monthly payment by approximately 3,244 pesos. That is roughly 38,928 pesos in annual savings, or nearly 194,640 pesos over a 5-year fixed period. Your actual savings will depend on your remaining loan balance, remaining term, and any applicable fees — Nook can provide a personalized calculation for free.
Can I use a Security Bank home loan to buy a foreclosed property?
Yes. Security Bank accepts loan applications for foreclosed properties, alongside Ready For Occupancy (RFO) units, pre-selling developments, home equity or cash-out purposes, renovations, and new construction. This makes Security Bank a versatile option across different property types and financing needs.